Toronto Dominion Bank Buys 32,038 Shares of Baker Hughes (NASDAQ:BKR)

Toronto Dominion Bank increased its stake in Baker Hughes (NASDAQ:BKR) by 6.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 559,539 shares of the company’s stock after purchasing an additional 32,038 shares during the period. Toronto Dominion Bank owned approximately 0.06% of Baker Hughes worth $22,952,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of BKR. Norges Bank bought a new position in Baker Hughes in the fourth quarter valued at about $829,092,000. Raymond James Financial Inc. bought a new position in Baker Hughes in the fourth quarter valued at about $291,289,000. Neuberger Berman Group LLC grew its position in Baker Hughes by 2,527.6% in the fourth quarter. Neuberger Berman Group LLC now owns 3,319,418 shares of the company’s stock valued at $136,158,000 after acquiring an additional 3,193,089 shares during the last quarter. Congress Asset Management Co. bought a new position in Baker Hughes in the fourth quarter valued at about $107,155,000. Finally, FMR LLC grew its position in Baker Hughes by 12.5% in the fourth quarter. FMR LLC now owns 15,702,057 shares of the company’s stock valued at $644,098,000 after acquiring an additional 1,744,225 shares during the last quarter. Institutional investors own 92.06% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on BKR. Wells Fargo & Company lifted their target price on Baker Hughes from $49.00 to $54.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Susquehanna cut their price target on Baker Hughes from $48.00 to $46.00 and set a “positive” rating on the stock in a research note on Thursday, April 24th. JPMorgan Chase & Co. lifted their price target on Baker Hughes from $50.00 to $52.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. The Goldman Sachs Group lifted their price target on Baker Hughes from $51.00 to $52.00 and gave the company a “buy” rating in a research note on Thursday, January 23rd. Finally, Stifel Nicolaus set a $50.00 price target on Baker Hughes and gave the company a “buy” rating in a research note on Thursday, April 24th. Two research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $49.11.

Baker Hughes Price Performance

Shares of BKR opened at $37.79 on Monday. Baker Hughes has a 52-week low of $30.93 and a 52-week high of $49.40. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.94 and a current ratio of 1.32. The business’s 50 day moving average price is $39.30 and its two-hundred day moving average price is $42.08. The firm has a market cap of $37.44 billion, a PE ratio of 12.68, a price-to-earnings-growth ratio of 2.00 and a beta of 0.96.

Baker Hughes (NASDAQ:BKR) last issued its quarterly earnings results on Tuesday, April 22nd. The company reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.03. Baker Hughes had a return on equity of 14.58% and a net margin of 10.70%. The firm had revenue of $6.43 billion for the quarter, compared to analyst estimates of $6.54 billion. On average, equities analysts anticipate that Baker Hughes will post 2.59 EPS for the current year.

Baker Hughes Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 16th. Shareholders of record on Tuesday, May 6th were paid a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 2.43%. The ex-dividend date was Tuesday, May 6th. Baker Hughes’s dividend payout ratio (DPR) is presently 31.40%.

About Baker Hughes

Baker Hughes Company provides a portfolio of technologies and services to energy and industrial value chain worldwide. The company operates through Oilfield Services & Equipment (OFSE) and Industrial & Energy Technology (IET) segments. The OFSE segment designs and manufactures products and provides related services, including exploration, appraisal, development, production, rejuvenation, and decommissioning for onshore and offshore oilfield operations.